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Budget passed, taxes to climb seven per cent, water/sewer bills up 4.6 per cent

Posted December 17, 2013

For the first time since New Tecumseth was created by amalgamation in 1991, council has approved two municipal budgets in the same calendar year, the most recent last night will add an average $113.57 or 7.05 per cent to property taxes on a home with a market value assessment of $313,324.

It's also the single largest tax increase of the four budgets struck during this term of council. The 2013 increase was an average of six per cent.

The 2014 budget proposes to spend approximately $32.3 million, but will require just over $24 million in taxes to finance it. Additionally, nearly $6 million will be added to long term debt pushing past $60 million by Dec. 31, 2014 (excluding interest).

Amendments to the final draft made last night did not change the tax implications. But did alter the road work schedule. Councillors agreed last night to utilize $546,700 from the gas tax reserve to pay for road resurfacing on the 6th Line between 10 and 15 SR. That came at the expense of previously approved 15 SR between the 6th and 8th Line, which had been earmarked for the gas tax funds.

2014 budget

Water and sewer bills will also increase 4.6 per cent starting April 1, 2014, which follows the five per cent increase in 2013.

Ward 8 councillor Jim Stone's suggestion that the Town defer repaying itself back the $190,000 owed to the Hydro Electric sale reserve fund by one year - borrowed to finance the Tottenham community centre expansion - to lower the municipal tax increase, failed to win council support.

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